abrdn Asia-Pacific Income Fund (NYSEAMERICAN:FAX) Share Price Crosses Below Fifty Day Moving Average – What’s Next?

abrdn Asia-Pacific Income Fund, Inc. (NYSEAMERICAN:FAX) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.53 and traded as low as $14.20. abrdn Asia-Pacific Income Fund shares last traded at $14.23, with a volume of 252,716 shares changing hands.

abrdn Asia-Pacific Income Fund Stock Up 0.2%

The company’s 50 day simple moving average is $15.49 and its 200 day simple moving average is $15.53.

abrdn Asia-Pacific Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.165 per share. The ex-dividend date was Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 13.7%.

Hedge Funds Weigh In On abrdn Asia-Pacific Income Fund

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in shares of abrdn Asia-Pacific Income Fund during the 1st quarter valued at about $170,000. Creative Planning grew its holdings in abrdn Asia-Pacific Income Fund by 6.9% in the second quarter. Creative Planning now owns 21,167 shares of the investment management company’s stock valued at $337,000 after purchasing an additional 1,364 shares during the period. Franklin Resources Inc. increased its position in abrdn Asia-Pacific Income Fund by 135.2% during the second quarter. Franklin Resources Inc. now owns 211,903 shares of the investment management company’s stock worth $3,373,000 after purchasing an additional 121,790 shares during the last quarter. Fisher Asset Management LLC acquired a new position in abrdn Asia-Pacific Income Fund during the second quarter worth approximately $187,000. Finally, Guggenheim Capital LLC raised its stake in abrdn Asia-Pacific Income Fund by 71.7% during the second quarter. Guggenheim Capital LLC now owns 161,630 shares of the investment management company’s stock worth $2,573,000 after purchasing an additional 67,478 shares during the period. 33.55% of the stock is currently owned by institutional investors and hedge funds.

About abrdn Asia-Pacific Income Fund

The abrdn Asia-Pacific Income Fund is a closed-end management investment company listed on the NYSE American under the ticker FAX. The fund seeks to provide total return by focusing primarily on current income and secondarily on capital appreciation through a diversified portfolio of Asia-Pacific securities.

Its investment portfolio is concentrated in dividend-paying equity securities of companies domiciled or operating in the Asia-Pacific region, excluding Japan. The fund may invest in common stocks, real estate investment trusts (REITs), depositary receipts, convertible securities and derivatives.